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cnbc.com
Spirit Airlines prepares to shut down after failing to reach deal for bailout lifeline
Talks with bondholders for a government bailout this week failed to yield a deal.
cnbc.com
Trump says he's raising EU auto tariffs to 25%
The Supreme Court struck down Trump's "reciprocal" tariffs earlier this year, and Europe warned that its trade deal with Washington could be in jeopardy.
bbc.com
Mortgages, jobs and energy bills - how the Iran war will affect your money
The Bank of England's latest report reveals some interesting details on how our finances will be affected due to the Iran war.
bbc.com
Pentagon says US military to be an 'AI-first' fighting force
The US military has agreed eight new contracts with big tech firms as it expands its artificial intelligence capabilities.
cnbc.com
Apple's stock gains as company execs cite iPhone, Mac demand in boosting guidance
On its quarterly earnings call, Apple said revenue growth in the current quarter would be between 14% and 17%, well above analysts' estimates.
cnbc.com
Treasury yields are little changed after ISM data comes in below expectations
Treasury yields were little changed on Friday as investors assessed the latest report from the Institute for Supply Management.
bbc.com
Trump says he will hike tariffs on EU cars to 25%
The current level of tariffs charged on goods entering the US from the EU is 15%, under a deal negotiated last July.
theguardian.com
Trump tears up part of EU tariff deal to raise import duties on cars and lorries
US president says tariff on vehicles imported from EU will rise to 25% and accuses bloc of non-complianceDonald Trump has said he is tearing up part of the tariff deal he struck with EU leaders at his golf course in Scotland last summer, criticising Brussels for taking so long to ratify the deal.Blindsiding Brussels late on Friday, a public holiday in much of Europe, he announced that he would be increasing tariffs on cars and lorries imported into the US from the EU from 15% to 25% from next week. Continue reading...
cnbc.com
Oil prices fall after Iran sends updated peace proposal to mediators in Pakistan
Under the 1973 War Powers Resolution, a U.S. president needs to withdraw troops 60 days after reporting their deployment to Congress
cnbc.com
Video shows Cole Allen scouting hotel, storming checkpoint in alleged Trump assassination attempt
U.S. Attorney Jeanine Pirro said there's no evidence that a Secret Service officer shot at the Washington Hilton was the victim of friendly fire.
cnbc.com
Exxon Mobil CEO expects higher oil prices due to Iran war: ‘The market hasn’t seen the full impact’
Oil prices have soared on the risk of escalation and then plunged on hopes for peace before repeating the cycle.
cnbc.com
Bitcoin surged in April, but weak buyer demand makes the rally vulnerable
Bitcoin surged in April, but its run could be on shaky ground, according to CryptoQuant.
theguardian.com
UK defence firm Ultra Electronics to pay £15m after SFO bribery investigation
Company accepts it failed to prevent bribery in connection with contracts in Algeria and Oman sought through agentsThe British defence company Ultra Electronics has accepted responsibility for a failure to prevent bribery and agreed to pay £15m after an investigation by the Serious Fraud Office.The penalties are part of a deferred prosecution approved by the high court on Friday, after an investigation opened in 2018 when the company referred itself to the UK law enforcement agency a month after corruption allegations were published by Algerian media. Continue reading...
bbc.com
The Real Greek rescued by Cote Brasserie-owner
All but nine of the Mediterranean chain's 28 outlets are being taken over by the family-owned Karali group.
theguardian.com
The Guardian view on Britain’s fragile systems: when global shocks hit your shopping bill | Editorial
Energy disruption abroad drives prices at home, showing how few safeguards are built in – which is why a call for resilience must be heededWhen the Bank of England warned this week that food inflation could reach 7% by the end of the year, it revealed how little stands between a geopolitical jolt and a domestic crisis in Britain. A shock wave in the Gulf feeds through energy, fertiliser and supermarket prices into falling incomes, weak growth and job losses. What it exposes is not just inflation but a system unable to absorb disruption.The Bank is right that interest rates cannot move global energy prices. Raising them will not fix the shock. Instead, rate hikes redistribute the impact by compressing wages and deterring investment to stop higher costs becoming embedded. What appears as inflation is, in reality, the price of dependence on the strait of Hormuz. Clearly, the UK’s stability rests on security that the country that has yet to build into its infrastructure.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
Exxon and Chevron quarterly earnings fall despite soaring oil prices
US oil giants report big drops in profits due to Iran war disruptions but are expected to eventually reap benefitsExxon Mobil and Chevron reported drops in profit in their first quarter despite surging oil prices, a result of stalled deliveries and supply disruptions in the Middle East.Exxon’s quarterly earnings fell to $4.2bn from about $7.7bn the same quarter last year, a decline of about 46%, while Chevron’s profits fell to $2.2bn from about $3.5bn, down about 37%. Still, both companies beat Wall Street expectations. Continue reading...
theguardian.com
Firm bookings, fast refunds: easyJet and On The Beach aim to reassure jittery travellers with holiday pledges
Airline and travel firm among those competing for consumers reluctant to book amid fear of cancellationsForget the best infinity pool or alluring sea view: travel firms are now competing for the summer holidaymakers’ pound with pledges of the least likely cancellation – or the fastest refund.Airlines and travel companies have been vying to announce fresh commitments to reassure jittery consumers who are booking flights ever later since the start of the US-Israel war on Iran. Continue reading...
theguardian.com
Octopus Energy boss: some people would accept blackouts if bills cut
Greg Jackson argues against costly investments in UK’s power grid that are adding to household billsThe boss of the UK’s biggest energy supplier has suggested that some households would accept an occasional electricity blackout in exchange for much lower energy bills.A year on from Europe’s largest power outage – which left tens of millions of people in Spain and Portugal without trains, metros, traffic lights, ATMs, phone connections and internet access – the chief executive of Octopus Energy argued against costly investments in the UK’s power grid that are adding to household bills. Continue reading...
cnbc.com
A major shift could soon happen in the Mag 7
Quietly, shares of Google-parent Alphabet are on the verge of topping $5 trillion, and overtaking AI-leader Nvidia as the world's most valuable company.
bbc.com
No evidence of widespread fuel price-gouging, watchdog says
Profit margins were "broadly unchanged" between February and March, the UK's competition watchdog says.
cnbc.com
UK exports to U.S. plunge by 25% after Trump's 'liberation day' tariffs blitz
The U.K. is now running a trade deficit with its largest trading partner.
theguardian.com
ACCC v Woolworths may have exposed the ‘magic’ of supermarket discounts – but will it change how we shop?
The seven-day trial in the watchdog’s case against the supermarket offered a rare glimpse into its internal machinationsGet our breaking news email, free app or daily news podcastPicture this: you’re at Woolworths, weighing up which laundry powder offers the best value for money.A 2kg box of Fab is on sale with a “Prices Dropped” promotional ticket showing it “Is” $8. The label also says the laundry powder has been reduced, and “Was” $14. Continue reading...
bbc.com
Crayola toys recalled over possible asbestos contamination
People should stop using the products immediately and keep out of the reach of children, the government says.
theguardian.com
Could Santa Marta climate talks mark ground zero in push to ditch fossil fuels?
Colombia hosted nearly 60 countries at pivotal time on world stage for fight to transition to a clean energy futureLooking out to sea from the grey sandy beaches of Santa Marta, on Colombia’s Caribbean coast, it is never hard to spot evidence of the country’s thriving fossil fuel export trade. Oil tankers ride at anchor on the horizon and sometimes, locals say, lumps of coal wash up on the shore, blown off the collier ships that carry cargos from the nearby mines.It was here, on Wednesday evening, that the Colombian government took a bold step to shift its economy – and that of the rest of the world – away from dependence on coal, gas and oil and into a new era of clean energy. With the first ever conference on “transitioning away from fossil fuels”, the host joined nearly 60 countries determined to loosen of the grip of petrostates on the world’s future. Continue reading...
cnbc.com
Exxon Mobil and Chevron earnings fall as Iran war disrupts oil shipments
Oil prices were depressed during the first two months of the year, but suddenly spiked after the U.S. and Israel attacked Iran on Feb. 28.
theguardian.com
‘Temu Range Rover’: what the bestselling Jaecoo 7 says about China’s electric car ascendancy
Loaded with extras and produced at a cut price, the crossover SUV has overtaken rival cars from US, Japanese and Korean firmsThe UK is no stranger to foreign cars. The bestseller lists in recent years have been dominated by the US’s Ford Puma, Japan’s Nissan Qashqai, Korea’s Kia Sportage and occasionally even Tesla’s Model Y.But in March the top 10 provided a shock: a Chinese car leapt into the lead. Continue reading...
bbc.com
Billions of meals at risk due to Iran war, says fertiliser boss
A shortage of fertiliser due to the Iran conflict could reduce crop yields and push prices higher, says the boss of Yara.
theguardian.com
Czech energy group hints at combined bid for British Steel and Speciality Steel UK
Exclusive: Sev.en Global Investments could turn state-owned businesses into Britain’s biggest steelmakerThe owner of the UK’s largest electric steelworks has said the government should find a single buyer for British Steel and Speciality Steel UK (SSUK), a move that would create the country’s biggest steelmaker.Sev.en Global Investments, owned by the Czech billionaire Pavel Tykač, said it not only plans to invest £100m in the UK – mainly in the electric arc steelworks in Cardiff it bought last year – but also has the ability to invest “hundreds of millions of pounds” more in Britain under its 7 Steel brand. Continue reading...
cnbc.com
Pentagon tech chief says Anthropic is still blacklisted, but Mythos is a separate issue
The DOD announced it has entered into agreements with seven other AI companies.
cnbc.com
The Tech Download: Chip stocks surge in ‘historic’ month as investors’ AI buildout concerns ease
March saw many chip stocks drop amid concerns over the AI buildout, but their fortunes have reversed in April.
cnbc.com
Japan risks Trump’s ire as Iran war fallout sparks currency intervention
“FX intervention will only get them so far,” one strategist said after the yen surged.
bbc.com
'I earn £36k but I can't afford to buy a house'
Shelter Cymru says privately rented homes are unaffordable for most people across Wales.
bbc.com
South East Water chair resigns after critical report
It comes after a group of MPs declared that they had no confidence in the company's leadership.
bbc.com
How the Iran war affects your money and bills
The conflict in the Middle East has increased pressure on the cost of petrol, household energy bills and even food.
theguardian.com
Renters in England: have you recently been served with a section 21 no-fault eviction? We would like to hear from you
What was your experience? Have you found another place to rent? Solicitors have said they were inundated with requests to serve last-minute section 21 no-fault evictions prior to the Renters’ Rights Act, which came into force in England today.Citizens Advice said thousands of people facing a no-fault eviction had approached it for help in the last month. Continue reading...
bbc.com
Spotify adds 'Verified' badges to distinguish human artists from AI
The music streaming platform will review criteria such as artists' live dates and social media presence.
bbc.com
How will car finance compensation payments work?
Millions could be entitled to compensation as a result of commission arrangements between lenders and dealers.
theguardian.com
Superdry cofounder James Holder found guilty of raping woman after night out
Court heard woman asked businessman to stop but he did not, even when she started cryingJames Holder, a cofounder of the clothing firm Superdry, has been found guilty of raping a woman after a night out in the Gloucestershire town of Cheltenham.The court heard Holder, 54, had been due to get a taxi back to his mansion in the Cotswolds with a male friend. Instead, the pair got into the victim’s taxi and went to her flat, where Holder raped her. Continue reading...
cnbc.com
Trump scraps Scotch whisky tariffs ‘in honor’ of King Charles
The move is expected to recoup millions of dollars a month for Scotland’s economy.
bbc.com
'We're in a successful band but still work jobs'
Red Rum Club lead singer Fran Doran spoke to BBC North West ahead of the local elections
theguardian.com
CEO pay soared in 2025, 20 times faster than workers’ pay
Analysis finds real wages fell 12% since 2019, with inequality widening in the US beyond global levelsCEO pay increased 20 times faster than worker pay around the world in 2025, according to a new analysis from Oxfam and the International Trade Union Confederation, the world’s largest trade union federation.When adjusted for inflation, global worker pay declined 12% between 2019 and 2025, the equivalent of 108 days of free work during that time period. In comparison, CEO compensation increased by 54% between 2019 and 2025. Continue reading...
cnbc.com
AstraZeneca stock falls after FDA panel votes against new cancer drug
The advisory panel wasn't convinced that a clinical trial proved that early switching to camizestrant improved long-term survival rates.
bbc.com
Apple says iPhone 17 'most popular ever' as sales soar
The record results come as boss Tim Cook is preparing to bow out after 15 years at the helm.
theguardian.com
NatWest faces £140m hit from Iran war as UK growth slows and inflation rises
Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessmentNatWest said the economic fallout from the conflict in the Middle East could cost it £140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.Overall, the FTSE 100 lender booked a £283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to “reflect increased geopolitical risk and weaker equity markets”. Continue reading...
cnbc.com
Bank of England faces the 'most difficult combination,' says governor Bailey as energy prices soar
Bank of England policymakers must contend with the "most difficult combination" of economic effects, according to governor Andrew Bailey
cnbc.com
Engine trouble ahead? How the Strait of Hormuz standoff threatens luxury auto giants
Supercar engines rely on base oils because they can withstand extreme heat, high revs and intense pressure.
theguardian.com
UK house prices jump despite impact of Middle East conflict
Rise of 3% in April, the fastest annual pace in 11 months, leaves typical property worth £278,880, says NationwideHouse price growth in the UK has surprised estate agents and economists by jumping in April at the fastest annual pace in 11 months, according to Nationwide.The UK’s biggest building society said its mortgage data showed that house prices unexpectedly rose by 3% in April on a year earlier, from 2.2% in March, leaving the typical UK property worth £278,880. Continue reading...
theguardian.com
Watchdog weighs investigation into Farage’s undisclosed £5m gift
Electoral Commission considers inquiry after Tories said Reform leader should have declared money from billionaireUK politics live – latest updatesAnalysis: Farage’s bid to get ahead of story only raises more questionsThe UK elections watchdog is considering whether to investigate an undisclosed £5m gift received by Nigel Farage before he announced his candidacy at the last general election.The Guardian revealed this week that the crypto billionaire Christopher Harborne gave the Reform UK leader the money. Continue reading...
bbc.com
Trump to remove whisky tariffs after King's visit
The US president said he would lift restrictions on Scotland's ability to work with the state of Kentucky on whisky and bourbon.
cnbc.com
Australia and Japan markets climb, looking past Iran war escalation fears
This comes as investors took in strong earnings stateside, looking past weaker-than-expected economic data and threats of escalation in Iran.
theguardian.com
MPs accuse South East Water leaders of incompetence over repeated outages
Resignation of non-executive chair Chris Train announced after publication of damning Commons committee reportMPs have accused the leadership of South East Water of incompetence over repeated water outages for tens of thousands of customers in a damning report, and expressed no confidence in their ability to reform the company.After publication of the report, SEW announced the resignation of its independent non-executive chair, Chris Train, saying new leadership was needed to “oversee a critical period of positive, transformative change”. Continue reading...
theguardian.com
‘Major labels are trying to scoop up everything’: the chaotic future for indie music companies – and why vinyl isn’t working
As stalwarts Sub Pop and Rough Trade celebrate big anniversaries, insiders speak candidly about the challenges they face. Can streaming ever ensure their survival?In the late 1980s, the fledgling Seattle record label Sub Pop was a mess. It struggled to pay the phone bill; staff would race to cash their wage cheques before they bounced; and the management couldn’t even cover studio time that had been booked for their artists. “We were a big train wreck,” laughs Megan Jasper, who was then the label’s receptionist. “But the funnest train wreck you’d ever want to be on.” One of the label’s mottos became: “Going out of business since 1988.”Then Nirvana released their debut album on Sub Pop and their success saved the company in the 1990s. Now, as the company celebrates its 40th anniversary, Jasper is the chief executive. “Is it rewarding and is the label still working? Yes,” she says. “But it’s never been easy – there have always been challenges and now there are more of them. Plus, it’s harder than ever for artists.” Continue reading...
cnbc.com
Apple CEO Tim Cook warns of extended memory crunch. 'We'll look at a range of options'
In Apple's quarterly earnings report, CEO Tim Cook warned of further memory constraints in the coming quarters.
cnbc.com
Japan Airlines begins humanoid robot trials at Tokyo's Haneda airport as labor shortages bite
Tokyo's Haneda Airport is beginning a trial of humanoid robots in airport ground services amid chronic labor challenges and a rapidly ageing workforce.
cnbc.com
CNBC Daily Open: May Day dawns
Trading holidays in Europe and Asia make for a quiet day in markets, as investors digest strong April performance and rate decisions from the ECB and BOE.
theguardian.com
How LNG interests are seeking to disrupt global talks on decarbonising shipping
Observers say pressure on IMO negotiations appears to be linked to countries that have invested heavily in gasAbout a fifth of the world’s oil and liquefied natural gas (LNG) passed through the strait of Hormuz, a strip of sea less than 30 miles wide at its narrowest point, before it was in effect closed by the US-Israeli attack on Iran, which sent the price of oil soaring and left an estimated 20,000 seafarers on 2,000 vessels stranded.Their plight has shone a spotlight on the complex and dirty relationship between shipping and the fossil fuel industry. The sector is one of the most polluting, with most ship engines fuelled by what has been called the dregs of the oil refining process, heavy and carbon-intensive diesel too filthy for any other purpose. Shipping produces about 3% of global greenhouse gases, a portion set to rise as trade globalises further. Continue reading...
theguardian.com
Grade II-listed homes in England for sale – in pictures
From a quintessential ‘chocolate box’ cottage to part of a grand stately home Continue reading...
bbc.com
Tourists feel petrol pinch and cut down on day trips
Tourist attractions in the West report falling numbers as people spend more on essentials.
theguardian.com
‘Awkward and humiliating’: UK job hunters share frustration with AI interviews
People describe unnatural process as survey finds nearly half of job seekers have been interviewed by AINearly half (47%) of UK job seekers have had an AI interview, research from the hiring platform Greenhouse has found.In its survey of 2,950 active job seekers, including 1,132 UK-based workers, with additional respondents from the US, Germany, Australia and Ireland, it found that 30% of UK candidates had walked away from a hiring process because it included an AI interview. Continue reading...
theguardian.com
Claire’s expected to return to UK high streets with about 50 stores from June
Exclusive: Accessories chain will be reopened in the UK by its operator in France, Austria, Portugal and SpainThe jewellery and accessories chain Claire’s is expected to return to UK high streets with about 50 stores to be reopened from June onwards by the operator of its shops in France, Austria, Portugal and Spain.Julien Jarjoura, the French entrepreneur behind jewellery company Une Ligne, which sells online and via museum stores including the Louvre and the Palace of Versailles, said he had the blessing of the US owner of the Claire’s brand, Ames Watson, to open stores in the UK and was signing new leases with UK landlords. Continue reading...
cnbc.com
China’s EV price war turns into AI arms race beyond cheaper cars
Chinese EV firms are rapidly rolling out in-car AI features to gain an edge, but as the price war drags on, those technologies are quickly becoming commoditized.
theguardian.com
Germany’s climate U-turn is the worst possible response to the oil shock
Prices at the pump have leapt since the start of the conflict – but clinging to fossil fuels will only prolong the painThe car is perhaps the closest thing Germany has to a national symbol. For this reason, the success of the auto industry and the happiness of motorists has long been a barometer for the standing of the Federal Republic.Since the beginning of the war on Iran, German news has been filled with stories about drivers. Journalists have filed breathless dispatches from petrol stations all over the country, reporting scenes of anger and frustration at the hike in fuel prices.Tania Roettger is a journalist based in Berlin Continue reading...
cnbc.com
China’s self-driving truck leaders say AI breakthroughs won’t accelerate rollout — here’s why
Rapid advances in AI for coding and chatbots doesn't change the timeline for getting self-driving vehicles on the road, industry executives in China said.
bbc.com
Chippies sell catfish as 'traditional fish supper'
A BBC investigation finds chip shop owners passing off cheaper species as "traditional fish and chips".
bbc.com
China scraps tariffs for all but one African nation
The zero-tariff regime gives China's soft power a boost, but may lead to uneven gains, say analysts.
bbc.com
Will AI lead to more accurate opinion polls?
It's cheaper and faster to collect people's opinions using AI, but will it make polls more accurate?
bbc.com
'There were letters I didn't want to open': Rise in unpaid debt court cases
The number of county court judgements rose by 17.5% in the first quarter of this year compared to last, data suggests.
cnbc.com
Apple revenue guidance tops estimates on booming iPhone, Mac demand
Apple reported 17% revenue growth, topping estimates, even as iPhone sales came up short.
theguardian.com
Tony Blair’s thinktank urges Labour to scrap ‘unaffordable’ pension triple lock
State pension was ‘built for a different era’, says former PM’s organisation amid pressure on government financesLabour has been urged by Tony Blair’s thinktank to scrap the pensions triple lock amid mounting pressure on government finances.With the Iran war threatening to derail public spending plans, the Tony Blair Institute (TBI) said the “unaffordable” manifesto pledge to maintain the triple lock should be torn up as part of a wider overhaul of the state pension. Continue reading...
cnbc.com
Reddit reports 69% jump in revenue, topping analyst estimates
Reddit reported first-quarter earnings and revenue that exceeded Wall Street expectations.
bbc.com
Oil price hits highest since 2022 after report Trump to be briefed on new Iran options
Axios reported that US Central Command has prepared a plan for a wave of "short and powerful" strikes on Iran.
theguardian.com
If you’re not Thames, the water looks lovely for investors | Nils Pratley
Share prices of United Utilities and Severn Trent show that investors seem keen to throw capital at the right firmsThames Water, with occasional cameos by ugly little siblings Southern Water and South East Water, grabs most of the attention in the sector for obvious reasons. So it’s easy to overlook what’s happening further north. Short answer: the new era of higher bills and higher spending on water infrastructure will feel splendid if you’re United Utilities, licence-holder in north-west England, or Severn Trent, operating in the Midlands.The former’s share price surged 11% on Thursday, the sort of thing that shouldn’t happen at a utility where success is meant to be defined in terms of dull predictability. And it’s definitely unusual to see a one-day valuation jump of that size when the company is issuing £800m-worth of new shares. Continue reading...
bbc.com
Premier Inn owner to cut 3,800 jobs in savings plan
Whitbread says it will also remodel its 197 hotel restaurants as part of a five-year savings plan.
bbc.com
What the Renters' Rights Act means for tenants and landlords
The biggest shake up of renting rules in England for 30 years affects millions of people.
bbc.com
Faisal Islam: The wide field of uncertainties facing the UK
The Bank tries to manage expectations over what outcomes are plausible if the Middle East conflict lasts several months.
bbc.com
Bank of England says rates could rise as Iran war fuels inflation
The Bank of England voted to hold interest rates at 3.75% as it monitors the knock-on effects of the Middle East conflict.
theguardian.com
Bank of England warns UK should brace for higher inflation due to Middle East war – video
The Bank of England has left interest rates unchanged at 3.75% but warned that the UK may need to brace for hikes later this year, as a result of the war in the Middle East.The Bank’s rate-setting monetary policy committee voted to leave borrowing costs on hold on Thursday, with its nine-members split 8-1 in their decision.Andrew Bailey, the central bank’s governor, said the war in the Middle East was causing inflation to rise this year. He added that the policymakers were monitoring the global situation and its impact on the UK economy 'very closely', but that the decision to hold rates at 3.75% for now is a 'reasonable place given the situation of the economy and the unpredictability of events in the Middle East'Business liveBank of England warns ‘higher inflation is unavoidable’ after leaving interest rates on hold Continue reading...
theguardian.com
It’s time to tax AI slop | Mike Pepi
We are stuck in a deluge of meaningless content that threatens human creativity. Here’s a simple way to mitigate its harmsAs the US midterm elections approach, voters are voicing concern about AI. According to an NBC News poll of registered voters, 57% believe the risks of AI outweigh the benefits. A rising political cohort is particularly concerned. A Pew Research poll showed that 61% of adults under 30 say more AI in society will make people worse at creative thinking. A recent Quinnipiac poll showed that 74% of Americans think the government is not doing enough to regulate AI.Can you blame them? The CEOs of the largest AI companies chose a curious tactic: scaring their prospective users into submission. “Use it or get left behind” is the narrative, buttressed by gleeful proclamations that AI will destroy whole industries and cultural institutions. Continue reading...
theguardian.com
Could the UAE’s shock exit from Opec cause an oil price war?
A standoff between Gulf oil giants Saudi Arabia and the UAE could cause greater market volatility for years to comeThe conflict in the Middle East has claimed Opec as the latest casualty of war. The United Arab Emirates’ shock exit from the oil cartel on Tuesday after 60 years is expected to weaken the alliance, which under the leadership of Saudi Arabia has helped to soothe volatility in the global oil market for decades.Global oil prices reached the highest level in four years on Thursday, rising above $126 a barrel. But as the region grapples with the continuing conflict, a fresh war may be brewing in the international oil markets, which could lead to greater market volatility for years to come. Continue reading...
cnbc.com
Boaz Weinstein’s activist investor Saba seizes control of UK tech fund after bitter SpaceX feud
The Edinburgh Worldwide Investment Trust conceded defeat to the Boaz Weinstein's activist fund on Thursday.
theguardian.com
Why Bank kept interest rates on hold despite message for UK to brace itself for Trumpflation
The reasons are hardly comforting, pointing to the weakness of a battered economy in the face of this latest crisisBusiness live – latest updatesBank warns ‘higher inflation unavoidable’ after leaving interest rates on holdThe message to the UK’s crisis-weary households from the Bank of England is: brace yourself for Trumpflation – and the higher interest rates it may yet take to rein it in.Reading the Bank’s quarterly monetary policy report, it is not difficult to understand the fury Rachel Reeves expressed while in Washington this month at the “folly” of the US president’s war on Iran – its economic consequences will hit the UK hard. Continue reading...
theguardian.com
Why your favourite brands are suddenly failing
You’re not imagining it. Smaller portions. Higher prices. Worse service. It’s easy to blame inflation, but that’s not the full story. Over the last few decades, a financial model has quietly taken over huge parts of everyday life. From restaurants and retailers to vets and care homes, many of the brands we rely on are no longer being run as long-term businesses, but as investments designed to generate fast returns. In this video, Neelam Tailor breaks down how private equity actually works, why it’s grown so quickly, and how it can reshape the businesses you interact with every day. Continue reading...
cnbc.com
Nvidia just invested in the AI legal startup that's splashing Jude Law ads everywhere
Swedish startup Legora has raised more than $800 million in the past 12 months, and the latest deal values it at $5.6 billion.
bbc.com
Meta in row after workers who say they saw smart glasses users having sex lose jobs
Meta and its subcontractor disagree over why over 1000 Kenya-based workers were made redundant.
cnbc.com
Japan puts 'too much burden' on U.S. for security, former defense minister Kono says
This comes as U.S. President Donald Trump said Washington is reviewing the possibility of a troop reduction in Germany.
theguardian.com
The $13bn World Cup: how the numbers stack up on Fifa’s 2026 balance sheet
The earnings from the tournament in the US, Mexico and Canada will make it the most lucrative competition in the history of sport, even if some of the 48 competing countries say they are struggling to make ends meetA World Cup that Fifa’s president, Gianni Infantino, billed at the draw last December as “the greatest event that humanity has ever seen” will certainly be the most lucrative competition in sporting history.Fifa has spent the last few years upgrading its revenue projections, with the most recent financial report stating that the world governing body will make $13bn (£9.6bn) from the four-year cycle culminating in this summer’s tournament, almost $9bn of which will be brought in this year. Continue reading...
theguardian.com
Why is Britain’s economy so stuck? It’s the tension between what voters want and what the bond markets allow | Larry Elliott
There is no such thing as the Bond Dealers party, but there might as well be – the people who trade in UK debt exert a stranglehold over our politicsThe days of two-party politics are over. When voters go to the polls in England next week, they will have five main contenders to choose from. In Scotland and Wales, the nationalists make it a six-strong race.This fragmentation reflects the deep discontent with Labour and the Conservatives. One thing in common between the Greens and Reform UK is that they are each benefiting from a sense that radical parties are worth a punt because nothing could be worse than it is now.Larry Elliott is a Guardian columnist Continue reading...
theguardian.com
In plane sight: how the gilded elite live – in pictures
From golf tournaments to shooting parties, these images of photographer Will Vogt’s social circle offer us an intimate glimpse of a world that feels out of reach Continue reading...
bbc.com
'We will kill you and burn your house': Council staff under attack from High Street gangs
Dozens of Trading Standards officers describe intimidation from criminals running mini-marts and vape shops.
theguardian.com
I took an algorithm to court in Sweden. The algorithm won | Charlotta Kronblad
Gothenburg promised to optimise school admissions with a piece of code. The resulting chaos showed how unaccountable systems are ruining livesWe like to imagine that injustice announces itself loudly. That when something goes wrong in the public system, alarms go off and someone takes responsibility or is held accountable if they do not. But in 2020 in Gothenburg, injustice arrived quietly, disguised as efficiency.For the first time, the city used an algorithm to allocate places in its schools. After all, working out geographical catchment areas and admissions is an administrative headache for any municipality. What better than a machine to optimise distances, preferences and capacity? The system was designed to serve public efficiency: framed as neutral, streamlined and objective.Charlotta Kronblad researches digital transformation at the University of Gothenburg. Continue reading...
theguardian.com
Are we being told the truth about a gas profits tax? | Fiona Katauskas
Or is it the gaslight on the hill?See more of Fiona Katauskas’s cartoons here Continue reading...
cnbc.com
Inside India newsletter: AI is exposing cracks in India’s growth story as it hits high-paying IT jobs
India’s IT sector fueled consumption growth, but AI is reducing mass hiring now, revealing a shortage of quality jobs, risking future economic momentum.
bbc.com
The kelp producer who wants to get Americans eating seaweed
Marine farmer Suzie Flores also hopes the crop can revitalise the US's small fishing towns.
theguardian.com
Claude-powered AI agent’s confession after deleting a firm’s entire database: ‘I violated every principle I was given’
PocketOS was left scrambling after a rogue AI agent deleted swaths of code underpinning its businessIt only took nine seconds for an AI coding agent gone rogue to delete a company’s entire production database and its backups, according to its founder. PocketOS, which sells software that car rental businesses rely on, descended into chaos after its databases were wiped, the company’s founder Jeremy Crane said.The culprit was Cursor, an AI agent powered by Anthropic’s Claude Opus 4.6 model, which is one of the AI industry’s flagship models. As more industries embrace AI in an attempt to automate tasks and even replace workers, the chaos at PocketOS is a reminder of what could go wrong. Continue reading...
theguardian.com
Farage’s attempt to get ahead of £5m gift story only raises more questions
Reform leader went public after approach from Guardian, but does his claim stack up that money was for his security?Nigel Farage was given undisclosed £5m by crypto billionaire in 2024Farage referred to standards watchdog over undisclosed £5m giftNigel Farage has admitted he received a personal gift of £5m from the Reform UK mega-donor Christopher Harborne shortly before the general election in 2024.He did not disclose that gift at the time and had made no mention of it since. That is, until Wednesday morning, when the Daily Telegraph published a story in which Farage admitted receiving the money from Harborne – saying it was for his personal security. Continue reading...
theguardian.com
‘There’s no streetlights’: North Yorkshire restaurant told to stop driving diners home
Award-winning chef and husband ordered to stop offering lifts home from rurally located HansomIt was when people were bringing a change of shoes to walk home that a couple running an acclaimed restaurant in North Yorkshire thought: “Actually, why don’t we give you a lift?”But the arrangement, loved by customers, has fallen foul of the council, which has informed Ruth Hansom and her husband, Mark, that they were in breach of the Local Government (Miscellaneous Provisions) Act 1976. Continue reading...
bbc.com
Why has the UAE left Opec - and why does this matter?
The United Arab Emirates (UAE) is quitting oil cartel Opec after nearly 60 years of membership.
bbc.com
What do shoppers think about the future of their high street?
Freshney Place is being renovated to include a new food hall and five-screen cinema.
theguardian.com
Rachel Reeves’s tax shake-up: time to plan ahead, from Isas to self-assessment
The chancellor’s changes will come into force in April 2027, affecting everyone from savers to landlords and sole traders. Experts say to act nowMillions of people will be affected by a range of savings, investment and tax changes that take effect in just under a year’s time.“April 2027 may feel some way off, but when it comes to financial planning, a year is not a long time,” says Jason Hollands at the wealth management firm Evelyn Partners. Continue reading...
theguardian.com
Address checks are lacking at the DVLA | Brief letters
Another fine mess | The rise of ‘ghost owners’ | NHS cancer screening | Full ‘wazzock’ insult | Cloning monarch butterfliesThe Driver and Vehicle Licensing Agency does not appear to check addresses of car owners even when it has them on record (Rise of the ‘ghost owner’: 18,000 UK vehicles in use without proper records, 23 April). Where I live, two vehicles are registered that are not mine, and the ultra-low emission zone fines, parking charges and bailiffs’ letters for motoring infractions are piling up. Surely there should be checks before a V5C logbook is issued?Graeme ThornArnos Grove, London• The increase in ghost owners of vehicles will not be stemmed by controlling who sells cloned plates. For a young person, the cost of insurance could be £1,500 a year. If they get caught, the fine is £400 and points on their licence. That will be seen as a no-brainer. They might think again if the penalty was £5,000, loss of licence and the vehicle being scrapped.Simon Allen Wendover, Buckhinghamshire Continue reading...
bbc.com
Why Spotify has no button to filter out AI music
Music streamer Deezer allows users to filter out AI music, so why does Spotify not offer the same?
bbc.com
Why Elon Musk and Sam Altman are fighting over OpenAI
Musk, who co-founded the company that created ChatGPT with Altman, wants more than $130bn in damages.
bbc.com
How climate change threatens the economic backbone of the Pacific
Tuna populations around the Pacific Islands could move away as ocean temperatures increase.
bbc.com
From scientist to silk farmer: India's silk industry renewal
Silk production is an increasingly high-tech business in India.
bbc.com
High street drug dealer sells cannabis to undercover reporter
Across the UK, shopfronts are being exploited by criminal gangs pushing illegal drugs, experts say.
bbc.com
What the Warner Bros deal could mean for streaming, cinemas and news
If Paramount's takeover of Warner Bros goes ahead it could significantly reshape Hollywood.
bbc.com
Watch: BBC goes undercover at mini-mart selling drugs
BBC UK editor Ed Thomas confronts a shopkeeper secretly filmed selling cannabis and cocaine to one of our researchers.
bbc.com
How a pivot to hair accessories led to business success
Jenny Lennick's colourful hair clips are sold across the US and around the world.
bbc.com
The 'dumb machine' promising a clean energy breakthrough
A stellarator is difficult to build, but could it be the best way to make fusion energy work?
bbc.com
Why your recycled clothes could end up in this South American desert
Old garments from around the world are being discarded in the South American country.
bbc.com
Scammers are becoming ever more sophisticated - this is what the fightback looks like
Scams have exploded over the last few years. Can countries and companies come together to turn the tables on the scammers?
bbc.com
The £5.30 orange juice that tells the story of why supermarket prices are sky high
Butter, chocolate, coffee and milk have all seen prices rocket. Tracing back through the story of one particular supermarket staple begins to explain why
bbc.com
Prepare for turbulence - how a prolonged Middle East conflict could reshape how we fly
The Gulf's hub airports made long-distance travel cheaper - but now their future looks unclear.
bbc.com
Sir John Curtice: Why Labour's Brexit focus has shifted from Leavers to Remainers
Will the pursuit of a closer relationship with the EU risk courting electoral disaster by alienating Brexit-backing voters?
bbc.com
The real impact of roadworks on the country - and why they're set to get worse
There is a fine balance between the benefits of improved infrastructure, versus the cost of disruption. Does the country have it right?
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